Hi
We are looking to move due to daughters education - it will be just for two years, so hubby wanst to sell house to rent elsewhere for time being. Im concerned we are going to loose too much money on this.
So im looking at putting out 30k aside from the sale to make another 5-8K over the next two years (which will cover the house value rise) plus as our mortgage would also be decreasing with each payment i want the savings plan to cover this as well. trouble is I cant work it out, and mort is in hubbys name so bank wont tell me.
The current mortgage is 77-78K at 3.99%. Repayments are £490 ish each month.
of each payment what is interest and what is repayment?
what will the balance owed be by June 2015?
Any idea what the redemption chrages will be if we did sell and move? we are out of early repayment charges etc but im assuming there are charges to pay off the mortgage?
thanks in advance
We are looking to move due to daughters education - it will be just for two years, so hubby wanst to sell house to rent elsewhere for time being. Im concerned we are going to loose too much money on this.
So im looking at putting out 30k aside from the sale to make another 5-8K over the next two years (which will cover the house value rise) plus as our mortgage would also be decreasing with each payment i want the savings plan to cover this as well. trouble is I cant work it out, and mort is in hubbys name so bank wont tell me.
The current mortgage is 77-78K at 3.99%. Repayments are £490 ish each month.
of each payment what is interest and what is repayment?
what will the balance owed be by June 2015?
Any idea what the redemption chrages will be if we did sell and move? we are out of early repayment charges etc but im assuming there are charges to pay off the mortgage?
thanks in advance